In-house bookkeeper vs outsourced accountant in Cyprus
For most Cyprus SMEs, outsourcing can be cheaper and easier to cover than hiring in-house once you count the full cost of an employee — salary plus applicable employer contributions, software, recruitment and the time to manage them. Here's the side-by-side.
| Factor | In-house bookkeeper | Outsource to us |
|---|---|---|
| Cost | Salary + applicable employer contributions + software + recruitment + management time | One fixed monthly fee — no employment on-costs, software included |
| Knowledge | Limited to one person's experience | Access to agreed tax, VAT and payroll services; audit requires a licensed auditor |
| Cover | Gaps during holiday, sickness or if they leave | Cover depends on the firm's staffing and service agreement |
| Software | You buy and maintain it | Included — cloud accounting with real-time access |
| Compliance risk | Rests on one person keeping up with the law | Senior review + a live compliance calendar |
| Scalability | Re-hire as you grow | Scales up and down with your needs |
The hidden cost of "just hiring someone"
A full-time bookkeeper doesn't cost their salary — it costs their salary plus applicable employer contributions(which have different rates and caps), plus software, recruitment, holiday/sick cover and the management time to supervise the role. One person also can't match a team that spans tax, VAT, payroll and audit — or the agreed review procedures that can reduce errors.
Frequently asked questions
For some SMEs, outsourcing can be cheaper once you add up the full cost of an employee: salary plus applicable employer contributions, software, recruitment and the management time to supervise them. A fixed monthly fee with no employment on-costs can be lower and more predictable, depending on scope.
More than the salary. On top of pay you fund applicable employer Social Insurance and other contributions (with different rates and caps), software licences, recruitment, training, equipment and management time — and you carry the risk if they're off or leave.
Usually only at larger scale, or when finance is so central and high-volume that a full-time, dedicated person (or team) is justified — often alongside an outsourced firm for audit, tax and senior oversight.
Yes — many businesses outsource bookkeeping, VAT and payroll while keeping light internal admin, or use us for senior tax and audit oversight on top of an internal bookkeeper. We scope it to fit.
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